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FIEO suggests setting up exchange neutralisation fund

KOLKATA: Taking cognisance of the adverse impact of rupee appreciation among a vast section of exporters, the Federation of Indian Export Organisations (FIEO) has pleaded with the government to set up an exchange neutralisation fund and fix the value of the dollar vis-a-vis the rupee on a quarterly basis solely for the purpose of exports. FIEO, while placing a charter before the finance and commerce ministries, has also pitched for allowing small and medium exporters to avail of cheaper export credit in foreign currencies.